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by 9oliYQjP
1866 days ago
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The Canada Revenue Agency is very clear about how they are interpret tax law here. If it’s a gift from a non-employer then it’s most certainly not taxable. There is no gift tax. However, Vitalik has generated a capital gains event by the act of donating a capital property. Canada doesn’t distinguish between short term or long term capital gains. 50% of the fair market value would be taxable at whatever his marginal tax rate is. But if he has donated to a qualifying charity, he may not have to report any of this capital gain. In short, he probably owes no tax from this act. |
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